The socialist is the one pushing for fiscal transparency

Posted by Marc Hodak on March 3, 2009 under Politics | 2 Comments to Read

The following exchange was between Bernie Sanders and Ben Bernanke:

“My question to you is, will you tell the American people to whom you lent $2.2 trillion of their dollars?” Sanders asked, referring to the size of the Fed’s balance sheet.

Bernanke responded that the Fed explains the various lending programs on its website, and details the terms and collateral requirements.

When Sanders pressed on whether he would name the firms that borrowed from the Fed, the central bank chairman replied, “No,” and started to say that doing so risked stigmatizing banks and discouraging them from borrowing from the central bank.

“Isn’t that too bad,” Sanders interrupted, cutting off Bernanke’s answer. “They took the money but they don’t want to be public about the fact that they received it.”

For those of you following at home, Bernanke is the Republican and Sanders is the socialist.  Confusing, I know.